What I'm aiming for are turnkey rentals and trying to max out the amount of conventional, lower interest loans. again, the DTI income ratio will be IMPROVED if the property shows cash flow.

Here's how they break down:Fannie Mae HomestyleMinimum Down Payment: 3%-5% (Primary Residence) & 20% Down (Investment/Second Home)Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: Per County Loan LimitsOccupancy Types: Primary Residence, Second Homes, and Investment PropertiesUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements (e.g., new roofing, foundation repairs)-Cosmetic Enhancements (e.g., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.

Maybe an outside the box idea would be to try to force some equity by making some improvements in the house you live in.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Also, check out if there’s any new development or improvements happening nearby, as that can boost property values.

It depends on the property.... is it value add where there's also a construction component or merely a management improvement opportunity?

I feel like my "circle of people" really needs an expansion and improvement and I want someone with more experience in the field I want to be in to really help me gain myself to success!

Most are being encouraged to buy Class B-minus rentals and below, but no one corrects them about their mistake of using Class A assumptions on these rentals:When a newbie gets smacked with reality via their losses, they then can only suck it up until time improves their mistake or dump at a loss.So, my question is, why can't we all do better and grow our industry with integrity?

Additionally, it can help maximize renovations and improvements.36.4% of the total depreciable basis was classified as 5-year class life.

I’m passionate about learning and improving my process to provide real value to investors, whether you’re focused on fix-and-flip, buy-and-hold, or any other strategy.Looking forward to your thoughts and insights!